1 December 2009

Saving private enterprise!!

THIS TEXT IS ADAPTED FROM THEIR RECENTLY PUBLISHED BOOK BLACK MARKETS AND BUSINESS BLUES. Capitalism, famously wrote Karl Marx, bears the seeds of its own destruction. Yet Marx was blind to capitalism’s ability to renew itself and soar, Phoenix-like. The last time this happened, after its near-death experience in the 1930s, governments had to salvage […]

4 November 2009

Business Corporations Act: Bill 63

According to IGOPP, the proposed Business Corporations Act (Bill 63) is a quantum leap in the right direction. It modernize and clarify some dsyfunctionnal aspaects of our business laws and legal system. Furthermore, Bill 63 introduce some useful innovations. Howewer, some modifications to the Bill would improve the chances of Québec to become a destination […]

23 September 2009

Opinion of the IGOPP : Bill 44c and Bill 38

Act to amend the General and Vocational Colleges Act with respect to Governance. For the purposes of the Parliamentary committee on the governance of the Vocational Colleges and Universities, IGOPP have submitted two memorandum stating that good governance is the best safeguard for the autonomy of the colleges and the universities : the legitimity and […]

29 July 2009

After the crisis, a call for drastic reforms

Yvan Allaire and Mihaela Firsirotu aren’t the kind of people you would expect to find railing against the dangers of modern capitalism and proposing a major overhaul. Mr. Allaire is an emeritus professor of management and former senior executive of Bombardier Inc., while Ms. Firsirotu is a respected professor of business strategy at Université du […]

10 June 2009

Black Markets and Business Blues

This book tells a sad tale. This is the tale of how and why the U.S. financial  system and the American  model of corporations, touted as examples for the rest of the world,  have proven fragile and destructive. It is the tale of how, over the last thirty years, financial markets became populated by funds […]

30 January 2009

A national securities commission:

Finance Minister Jim Flaherty’s obsession with creating a national securities commission is becoming clearer. On Tuesday evening, he revealed the cost of the new federal infrastructure project he wishes to roll out, which comes to $154 million for 2009-2010 alone (as indicated on page 102 of the budget speech). We understand Mr. Flaherty’s commitment to […]

20 January 2009

The Fine Print on a National Securities Commission

Admittedly, this is no easy task. The Hockin Report is the third attempt in recent years at selling the idea. Which combination of carrot and stick can sway those provinces that are still reluctant to hand over to a federal or national organization their regulatory and supervisory powers of securities markets? Instead of focusing on […]

3 December 2008

Beyond Monks and Minow

The distember of our times and investors’ belated outrage has turned corporate governance into a growth industry. Along with much hand wringing, disconsolate essays on ethics, host of new rules and regulations have come the banal and the trivial, invariably trotting on the allure of a surging. The essays contained in this monograph were written à […]

21 November 2008

The Crisis… and How to Deal With It!

“History never repeats itself. Mankind always does.” – Voltaire How did this unparalleled financial crisis come about? How can it be explained in simple terms? How can we learn from it and avoid making the same mistakes in future? The problem – the direct cause of the crisis – can be traced to a series […]

30 September 2008

The Financial Crisis: An End in Sight?

While the U.S. Congress was desperately scrambling to salvage its bailout plan, a panic-inducing chill went through the spine of the financial markets this past Monday, September 29 – as specialists and laymen alike are still struggling to come to terms with the finer points of this ongoing crisis. How exactly did the massive issuance […]

27 May 2008

Small and medium-sized businesses Governance

A Working Group of 18 prominent members of the business community issues a set of proposals promoting flexible governance adapted to the needs of Quebec’s small and medium-sized businesses and entrepreneurs. At a time when small and medium-sized businesses (SMBs) are facing bigger and bigger challenges, their owners and managers need to be able to […]

25 February 2008

The Governance of Health and Social Services Institutions in Quebec

A group of experts issues a report on corporate governance in the healthcare system and proposes concrete measures for improving the oversight of health and social services institutions in Quebec ? Improved performance within the healthcare system requires the boards of directors of healthcare institutions to have broader powers and clearer responsibilities so they can […]

11 February 2008

On Missing the Point:

[Caveat: This brief is submitted to the Competition Review Panel as a personal statement and does not necessarily reflect the opinions of the Institute or of its board of directors] The strength and size of the latest wave of foreign takeovers of Canadian corporations has spurred a sharp debate about their costs and benefits to […]

1 January 2008

One Share-One Vote: The Empirical Evidence

[ … ] The main question in most of the studies we survey is: Does disproportional ownership destroy shareholder value? We will argue that, while the literature has uncovered some robust evidence, this question has proven difficult to address empirically. A related issue is whether the widespread use of mechanisms to unbundle cash flow rights […]

21 September 2007

Two cheers for canada’s securities regulatory framework

Calls to eliminate the current architecture of the securities regulatory apparatus in Canada and replace it with a single, national securities commission have reached fever pitch over the last few weeks. Unsubstantiated claims that “Canada is the laughing stock of the rest of the world” are bandied around as if that were a compelling argument […]

18 September 2007

Working Group on University Governance

Working Group proposes principles for the governance of Quebec universities. In order for universities to achieve good governance, their Boards of Directors must include a majority of members who are independent of internal stakeholders. Boards must also enjoy autonomy in carrying out their functions – a prerequisite for accountability. They must follow clearly-established reporting requirements, […]